MENIFEE: City seeks money for interchange improvements

Menifee may soon be taking a significant step forward in solving
one of its biggest problems ---- paying for much-needed road
improvements.

While it's only a drop in the bucket for Menifee's overall
needs, the City Council has unanimously authorized the city's
finance staff to review and begin the process for borrowing up to
$17 million to help pay for the infrastructure, including
interchanges on Interstate 215 at Newport Road and at Scott
Road.

In the Sept. 6 presentation to the council, Menifee Finance
Director Terri Willoughby said that improving the two interchanges
is among the city's most pressing needs.

"It would improve the quality of life, but it's challenging
because the funding does not currently exist," Willoughby said.

The estimate for improving the interchange at Scott Road is $51
million, while Newport Road's price tag is $37 million. Menifee is
responsible for financing both projects.

Juan Perez,
Riverside
County Department of Transportation
director, said $3 million
to $3.5 million already has been spent on designs for each project.
The sale of bonds against existing community funding districts and
development impact fees could raise an additional $3 million to $5
million for each project, he said.

"I know (Menifee) is looking at $17 million, but that still
wouldn't be enough to fund either interchange," Perez added.

But it would help, and that's why the council has expressed
interest in moving forward on a loan through California
Communities.

The city would be obligated to repay the loan with interest over
the next 10 to 30 years. The money would come from gasoline excise
tax revenue. It would not affect the city's general fund,
Willoughby said.

While nothing is set in stone, she added that for a $17 million
loan, the city would start out paying roughly about $1.4 million
annually at about 5.45 percent interest.

Councilman John Denver said that although he would be
disappointed to pay all that interest, he would like to have money
available to improve the interchanges.

"If there is one thing we want besides good restaurants, we
really want these interchanges," Denver said. "I think we better
move forward on this and get them built."

If the city decides to proceed, closing would take place in
December or January and the final numbers would be locked in,
Willoughby said. She added that city staff members have prioritized
the work on the Newport Road interchange, but noted that the final
decision on where the money is spent rests with the council.

Councilman Tom Fuhrman said he would favor building a freeway
overpass at Holland Road, a project that could probably be paid for
with the $17 million, according to estimates released by the city a
year ago.

Fuhrman believes that more than 50 percent of the traffic that
clogs the interchanges is merely trying to cross the freeway, not
get onto it.